Search…
⌃K

Governance Committee

Equitable & decentralized governance
EYEQ DAO Governance Committee is a governance body, which consists of EYEQ DAO collective members, investors, strategic partners, and advisors. Once the Committee is formed members can be added or removed only by a Committee vote. The responsibilities of the Committee are as follows:
  1. 1.
    Govern EYEQ DAO in the best interests of the community, investors, EYEQ token holders, and affiliated ecosystem projects
  2. 2.
    Grow the EYEQ DAO portfolio of Web 3.0 projects, services and products
  3. 3.
    Ensure to support education and adoption of Web 3.0 technologies
Each member of the Committee is represented by (GT) governance token that can be minted and revoked only by the Committee. Governance committee tokens are non-transferrable blockchain tokens, where 1 (GT) governance token always represents 1 member.
Committee voting is a governance tool that allows the EYEQ Committee to operate. Only proposals where the support and quorum exceed the minimal thresholds shall be enacted and registered on the blockchain.

Initial parameters of the Committee Voting

  • Members - 1 Governance Token (GT) can be held per member
  • Support > 51%. Support is the relative percentage of tokens that are required to vote “Yes” for a proposal to be approved. In our case, more than 51% of the tokens used to vote on a proposal must vote “Yes” for it to pass.
  • Quorum > 40%. Quorum is the relative percentage of tokens used to vote. In case of EYEQ DAO > 40% of minted Governance tokens should participate in any proposal voting. Eg. if there are 10 Committee Members then 5 of them should participate in the voting to make the proposal enactable.
  • Voting duration - 7 days (afforded to all committee members). Voting duration is the time between the proposal creation and results finalization.
  • 1 Governance Token (GT) per member
Committee members can propose to modify any of the parameters by submitting a proposal for a vote.
Operating parameters of the Governance Committee can only be modified by a committee vote.